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Igrok Method. Q's & A's. Comments, thoughts and ideas

  • #1,021
  • Edited 7:31pm Apr 13, 2008 6:24pm | Edited 7:31pm
So, the idea was to catch the very top of the last diagonal before the market was going to make a break out of the pattern. (The break was supposed to be on the downside because the direction of the main diagonal was up). In order to catch this very top I had to figure out where it is likely to top out. For that purpose I first connected the very top and the very bottom of the main diagonal like this:
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly CHF A0-FX.jpg Size: 84 KB
  • #1,022
  • Apr 13, 2008 6:26pm Apr 13, 2008 6:26pm
Then I draw a horizontal line right in the middle of the main diagonal that would cut it in two equal halfs. Like this:
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly CHF A0-FX.jpg Size: 87 KB
  • #1,023
  • Edited 7:37pm Apr 13, 2008 6:32pm | Edited 7:37pm
Then I draw a straight line starting from the very bottom of the minor diagonal on the left through the point where two previous lines crossed over. Like this magenta line. And then placed my selling LO at this point in fact catching the very top of that last diagonal which topped out at the exact point that I had projected in advance :
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly CHF A0-FX.jpg Size: 91 KB
  • #1,024
  • Apr 13, 2008 6:36pm Apr 13, 2008 6:36pm
How would you classify this potential pennant on daily? There is no 3 touch of TL but you said you had different rules on patterns.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 71 KB
Measure twice, cut once
  • #1,025
  • Apr 13, 2008 6:39pm Apr 13, 2008 6:39pm
Quoting aediaz1
How would you classify this potential pennant on daily? There is no 3 touch of TL but you said you had different rules on patterns.
Makes no sense cause you ignore the very bottom.
  • #1,026
  • Apr 13, 2008 6:40pm Apr 13, 2008 6:40pm
Quoting Igrok
Then I draw a straight line starting from the very bottom of the minor diagonal on the left with the point where two previous lines crossed over. Like this magenta line. And then placed my selling LO at this point in fact catching the very top of that last diagonal which topped out at the exact point that I projected in advance :
Seems like a beauty. Never seen this approach before. Have you worked this out by yourself ? Or is this "common" knowledge in advanced TA ?
Measure twice, cut once
  • #1,027
  • Apr 13, 2008 6:42pm Apr 13, 2008 6:42pm
Quoting Igrok
Makes no sense cause you ignore the very bottom.
That long tail destroys then what seems to me like an potential pennant.
Measure twice, cut once
  • #1,028
  • Apr 13, 2008 6:44pm Apr 13, 2008 6:44pm
Quoting aediaz1
Seems like a beauty. Never seen this approach before. Have you worked this out by yourself ? Or is this "common" knowledge in advanced TA ?
This is my own technique. In this particular case that was the way to figure out the point of geometrical symmetry of this particular pattern. This is the first time I publish it.
  • #1,029
  • Apr 13, 2008 6:51pm Apr 13, 2008 6:51pm
Quoting aediaz1
That long tail destroys then what seems to me like an potential pennant.
The tail has to be taken into the equasion. It might eventually look different. I mean the whole pattern.
  • #1,030
  • Apr 13, 2008 6:58pm Apr 13, 2008 6:58pm
Quoting Igrok
This is my own technique. In this particular case that was the way to figure out the point of geometrical symmetry of this particular pattern. This is the first time I publish it.
I see. You mentioned that TL might have another set of appearance requirement during price patterns. If you got time, would you elaborate this field ?
Measure twice, cut once
  • #1,031
  • Apr 13, 2008 7:04pm Apr 13, 2008 7:04pm
Quoting aediaz1
I see. You mentioned that TL might have another set of appearance requirement during price patterns. If you got time, would you elaborate this field ?
There are tenth of possible different combinations. I just can't elaborate even on the most common ones. It is going to be like writing a new book from scratch.
  • #1,032
  • Apr 13, 2008 7:11pm Apr 13, 2008 7:11pm
Quoting Igrok
There are tenth of possible different combinations. I just can't elaborate even on the most common ones. It is going to be like writing a new book from scratch.

Somehow that answer should be obvious to me

Hoping for some examples from time to time, always looking for new edges and a lot can be learned from observing "simple" chart (with an tiny explanation behind if not).
Measure twice, cut once
  • #1,033
  • Apr 13, 2008 7:20pm Apr 13, 2008 7:20pm
Quoting aediaz1
Somehow that answer should be obvious to me

Hoping for some examples from time to time, always looking for new edges and a lot can be learned from observing "simple" chart (with an tiny explanation behind if not).
The easiest way to deal with those issues I have already published. It's all in my trading templates. I have those 27 little things developed for the purpose of simplifying the process of trading. Still some find them kind of difficult to follow. But who said that FX must give away free lunches?
  • #1,034
  • Apr 13, 2008 7:40pm Apr 13, 2008 7:40pm
Quoting Igrok
The easiest way to deal with those issues I have already published. It's all in my trading templates. I have those 27 little things developed for the purpose of simplifying the process of trading. Still some find them kind of difficult to follow. But who said that FX must give away free lunches?
I'm pretty sure that you could give away a 99% success-rate system and people would still lose lol.
Measure twice, cut once
  • #1,035
  • Apr 13, 2008 8:35pm Apr 13, 2008 8:35pm
Quoting aediaz1
I'm pretty sure that you could give away a 99% success-rate system and people would still lose lol.
It's kind of strange and pitiful. At first, like about 10-12 years back, I was getting much surprised every time when people couldn't see what I was considering obvious, but instead were seeing something that I could't make any sense of. Then I got used to it over time.
  • #1,036
  • Apr 14, 2008 12:03am Apr 14, 2008 12:03am
Quoting Igrok
Then I draw a straight line starting from the very bottom of the minor diagonal on the left through the point where two previous lines crossed over. Like this magenta line. And then placed my selling LO at this point in fact catching the very top of that last diagonal which topped out at the exact point that I had projected in advance :
Thats all I wanted to say.
All I ask is a chance to prove that money can't make me happy.
  • #1,037
  • Apr 14, 2008 12:57am Apr 14, 2008 12:57am
Quoting telluv
Thats all I wanted to say...
...about the war in Vietnam. (c) Forrest Gump
  • #1,038
  • Apr 14, 2008 2:49am Apr 14, 2008 2:49am
Quoting Igrok
Then I draw a straight line starting from the very bottom of the minor diagonal on the left through the point where two previous lines crossed over. Like this magenta line. And then placed my selling LO at this point in fact catching the very top of that last diagonal which topped out at the exact point that I had projected in advance :
Incredible.
Just how big / small(in pips) was your stop for this entry in this particular instance if I may ask?
Trust price. Know yourself.
  • #1,039
  • Apr 14, 2008 2:52am Apr 14, 2008 2:52am
Quoting SeekingLight
Incredible.
Just how big / small(in pips) was your stop for this entry in this particular instance if I may ask?
10 pips.
  • #1,040
  • Apr 14, 2008 3:03am Apr 14, 2008 3:03am
Quoting Igrok
10 pips.
LOL. Well, I knew it. Now it becomes obvious how you can make more than explosive returns
(But I think you wrote about getting small stop entries before on the thread, now it's easier to understand the how)

I think I might become a diamond hunter on the side as well, that explanation / geometry example you gave above convinced me

Thanks for sharing the concept.
Trust price. Know yourself.
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